The impossible watch ad

James Randi found an ad run by Neiman Marcus for a "Jaeger-leCoultre watch" on the back-cover of a recent issue of TIME magazine:

But what really caught my probing eye was the fact that whoever designed this ad, might be more accustomed to using an hour-glass or a sun-dial rather than a mechanical watch. This is the result of an artist choosing the most pleasing placement of the variables, regardless of whether or not he's representing a realistic view.
The watch shown could not exist.

Randi looked for more information on the watch, but could not find it listed on the Neiman Marcus web page. When Randi phoned the local store to ask about this particular timepiece he was told by the store they had never heard of it.